30.05.2013
As at the end of first quarter 2013, AS Trigon Property Development owned one property development project involving 35.46-hectare land plot in the City of Pärnu, Niidu area. Trigon Property Development AS considers expansion of business activity and analyses acquisition opportunities for different new projects.
Condensed consolidated statement of financial position as of 31 March 2013 and 31 March 2012 delivered by the present announcement completely reflects the assets, liabilities and equity capital of AS Trigon Property Development.
According to the condensed consolidated statement of comprehensive income the net profit for 3 months 2013 of AS Trigon Property Development is -7,421 euros and the earnings per share is -0,00165 EUR.
As of 31 March 2013 the consolidated assets of AS Trigon Property Development were 2,307,701 euros. The consolidated equity of the company was 2,173,406 euros, corresponding to 94 % of the total balance sheet.
Condensed consolidated statement of financial position
EUR | 31 March 2013 | 31 March 2012 | |
Cash | 16 628 | 2 299 | |
Receivables and prepayments | 1 073 | 7 546 | |
Total current assets | 17 701 | 9 845 | |
Investment property | 2 290 000 | 2 425 000 | |
TOTAL ASSETS | 2 307 701 | 2 434 845 | |
Borrowings | 25 032 | 25 032 | |
Payables and prepayments | 18 586 | 53 984 | |
Total current liabilities | 43 618 | 79 016 | |
Long-term borrowings | 90 677 | 199 078 | |
Total liabilities | 134 295 | 278 094 | |
Share capital at nominal value | 2 699 437 | 2 699 437 | |
Share premium | 226 056 | 226 056 | |
Statutory reserve capital | 287 542 | 287 542 | |
Retained earnings | -1 039 629 | -1 056 284 | |
Total equity | 2 173 406 | 2 156 751 | |
TOTAL LIABILITIES AND EQUITY | 2 307 701 | 2 434 845 |
Condensed consolidated statement of comprehensive income
EUR | 3 m 2013 | 3 m 2012 |
Rental income | 3 640 | 4 740 |
Expenses related to investment property | -3 817 | -1 405 |
Gross loss (profit) | -177 | 3 335 |
Administrative and general expenses | -6 327 | -8 240 |
Operating loss | -6 504 | -4 905 |
Net financial income | -917 | -2 369 |
NET LOSS FOR THE PERIOD | -7 421 | -7 274 |
TOTAL COMPREHENSIVE LOSS | -7 421 | -7 274 |
Basic earnings per share | -0,00165 | -0,00162 |
Diluted earnings per share | -0,00165 | -0,00162 |
Ülo Adamson
Chairman of the Supervisory Board
+372 667 9200